How to Stake Velas (VLX) for optimal returns

Introduction

Staking Velas can be an excellent choice for those looking to hold VLX while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly for first-timers. That’s why we’ve created this guide to assist you.

Step-by-Step Guide for South Korea's Financial Landscape 1

1. 1. Acquire Velas (VLX) Tokens

   To stake Velas, you first need to acquire it. To obtain Velas, you'll need to purchase it from a cryptocurrency exchange. You can choose from these popular platforms available in South Korea.

   플랫폼	코인	Price
   BingX	Velas (VLX)	0 APY
   CoinEx	Velas (VLX)	0 APY
   FMFW.io	Velas (VLX)	0 APY
   Gate.io	Velas (VLX)	0 APY
   HTX	Velas (VLX)	0 APY
   Probit	Velas (VLX)	0 APY

   Check out all 12 prices

2. 2. Select a Velas Wallet

   Once you have VLX, you'll need to select a Velas wallet to securely store your tokens. Here are some recommended options that are popular among Korean users.

   플랫폼	코인	Staking 보상
   MyCointainer	Velas (VLX)	Up to 8.7% APY

3. 3. Delegate Your VLX in South Korea

   We recommend using a staking pool when staking VLX. It’s more convenient and quicker to get started. A staking pool consists of a group of validators who combine their VLX, increasing their chances of validating transactions and earning rewards. You can easily manage this through your wallet's interface.

4. 4. Start Validating

   You will need to wait for your deposit to be confirmed by your wallet. Once it's confirmed, you will automatically validate transactions on the Velas network. For these validations, you will be rewarded with VLX.

What to Keep in Mind

You should be aware of the transaction and staking pool fees that apply. Additionally, there may be a waiting period before you begin to earn rewards. The staking pool must generate blocks, which can take a bit of time in the process.